Vitalik Buterin: Cryptocurrency regulation has resulted in a "state of anarchy"

According to Jinse Finance, Vitalik Buterin described a scenario when replying to a user on the social media platform Warpcast, which is based on the Farcaster protocol: The current regulatory measures have basically pushed honest cryptocurrency developers into desperation. The main challenge of cryptocurrency regulation (especially in the United States) has always been this phenomenon: if you do something useless or ask people for money in exchange for vague mentions of potential returns, then you are considered free and innocent. But if you try to clearly explain to your customers where the returns come from and promise them certain rights, then you are in trouble because you are considered a 'security'. The incentive gradient created by this 'anarchy tyranny' will eventually be worse than pure anarchy or pure tyranny. From the perspective of anarchy, it seems that there is an endless stream of bad actors, scammers, and baseless speculators on social media and sharing platforms. Previously, Buterin proposed three suggestions aimed at addressing the problem of "uselessness" in cryptocurrency products and services.